Skills you will master
- Basics of Cost Accounting
- Cost Terms and Purpose
- Cost Volume Profit Analysis
- Types of Costing
- Job Costing
- Batch Costing
- Activity Based Costing
- Cost Allocation and Analysis
- Profitability Analysis
- Decision Making using Marginal Costing
- Process Costing
- Joint Product and By Product
If you would like to get involved in business in any way – as an employee or as an entrepreneur, you need to know the nitty-gritty of cost accounting. This Cost Accounting course is designed for students and professionals who want to master cost accounting skills.
- About Cost Accounting Course
- Cost Accounting Course Description
- Cost Accounting Certificate
- Pre-requisites to this Cost Accounting Course?
- Target Audience for this Cost Accounting Course
- Cost Accounting Sample Videos
- Cost Accounting Course FAQs
- Career Benefits of this Cost Accounting course
- Cost Accounting Course Testimonials
Cost Accounting Course Details
|Course||Online Cost Accounting Course|
|Deal||This is 5 course bundle. Please note that you get access to all the 5 courses. You do not need to register for each course separately.|
|Hours||14+ Video Hours|
|Core Coverage||Basics of Cost Accounting, Cost Terms and Purpose, Cost Volume Profit Analysis, Types of Costing, Job Costing, Batch Costing, Activity Based Costing, Cost Allocation and Analysis, Profitability Analysis, Decision Making using Marginal Costing, Process Costing, Joint Product and By Product|
|Course Validity||Lifetime Access. You can view the cost accounting course any number of times|
|Eligibility||No eligibility as such.|
|What do you get?||Certificate of Excellence for each of the 8 courses|
|Certification Type||Course Completion Certificates|
|Verifiable Certificates?||Yes, these are verifiable certificates. This means that you will be provided with a unique URL/Link which you can include in your resume/Linkedin profile for online verification.|
|Type of Training||Video Course – Self Paced Learning|
|System Requirement||1 GB RAM or higher|
|Other Requirement||Speaker / Headphone|
Cost Accounting Course Description
This entire online cost accounting course is divided into five sub-courses which can be done separately as well. But to extract the best out of the entire course, it’s better that you follow the sequence and do all five sub-courses.
Cost Accounting: 01 Getting Started
- Getting Started (Basic Cost Accounting): In this sub-course, you will learn a lot. This online cost accounting course is designed for the beginners. Students who are just starting out in cost accounting should do this course first.
- Introduction: In the first section of this sub-course, you will learn the fundamentals of cost accounting.
- Cost Terms and Purpose: To understand cost accounting in detail, it’s important that you understand each cost term and the purpose of cost accounting. In this section, you will learn about direct cost and indirect cost accounting. You will also get to know the behaviour of the cost and example on the same. The instructor will also take you through cost function and cost estimation. Finally, you will learn about high low method and the example on the same.
- Cost Volume Profit Analysis: This is the final section of this sub-course. In this section, you will first learn the fundamental of cost volume profit analysis. Then you will go through CVP assumptions and practically understand an example on the same. Then you will learn about contribution margin ratio of cost, fixed cost and sales volumes, equation method of cost, and contribution margin method of cost. Then the instructor will take you through the margin of safety and its example and many examples of cost accounting.
Cost Accounting: 02 – Types of Costing
- Types of Costing: This is the second sub-course. This online cost accounting course is designed for intermediate students who have already done the first sub-course i.e. the basic cost accounting.
- Introduction of Cost Sheet: In this section, you will learn what a cost sheet is and what the pattern of a cost sheet is all about. Then the instructor will explain the cost of production and cost of sales. Finally, you will go through an example of a cost sheet.
- Example of a Cost Sheet: This section is totally dedicated to learning the example of a cost sheet. The instructor will take you through each item of the cost sheet. Then you will learn to calculate the profit as well.
- Job Costing: This entire section is dedicated to job costing. You will learn what job costing is, limitations of job costing, numerous examples of job costing, and data pertaining job costing example.
- Batch Costing: This entire section is devoted to batch costing. The instructor will take you through the fundamentals of batch costing, binder in batch costing example, and batch costing profitability example.
- Activity Based Costing: In this section, you will learn the fundamentals of activity based costing. Then the instructor will take you through an example of activity based costing. Then you will learn about total cost using activity based costing. Finally, you will learn about cost driver and volume of cost driver in activity based costing.
Cost Accounting: 03 – Cost Allocation and Analysis
- Cost Allocation and Analysis: This is the third sub-course of cost accounting course. This cost accounting course is designed for intermediate students.
- Introduction: In this section, you will learn about cost allocation.
- Cost Allocation: In this second section, you will learn about steps for cost allocation. You will also get to understand indirect cost, basis of apportionment, and example of basis of apportionment.
- Allocation of Service Department Cost: In this section, you will learn about allocation of service department cost, method of re-apportionment cost, and direct re-distribution cost. The instructor will also take you through the example of step down method, two departments in step down method, and example of direct and step down method. You will also learn about reciprocal re-distribution method and an example on the same. Finally, you will learn about overhead absorption rate, an example on overhead absorption rate, and customer profitability profile.
- Profitability Analysis: In this last segment, you will learn about profitability analysis in detail.
Cost Accounting: 04 – Decision Making using Marginal Costing
- Decision Making using Marginal Costing: This is the fourth sub-course of this comprehensive course. This is designed for intermediate students.
- Introduction: In this first section, you will learn about the fundamentals of decision making.
- Relevant Cost in Marginal Costing: In this second section, you will learn about relevant cost in marginal costing and non-relevant cost in marginal costing.
- Example of Relevant Costing: In this section, you will go through a detailed example of relevant costing and you will learn additional tits-bits about relevant costing.
- Cost of Opportunity: This is a very comprehensive section. In this section, you will learn about the concept of opportunity cost with example. You will also learn about cost concept and marginal costing and their respective examples. Then the instructor will take you through independent situation of marginal costing, cost volume profit (CVP) ratio, contribution margin ratio, break even analysis, target profit analysis, and also the example of target profit analysis. Finally, you will get to understand about graph of analysis, decision making using cost costing and CVP Analysis, and example of decision making.
- Types of Cost: In this final segment, you will learn about the impact realization value and route maintenance cost, cost indifference example in decision making, different types of cost indifference, output range and machine preferences in cost indifference, calculating cost indifference & interpreting results, and finally calculating opportunity cost.
Cost Accounting: 05 – Process Costing
- Process Costing: This is final sub-course of the full comprehensive course. This is designed for intermediate students.
- Introduction: In the first section, you will learn process costing in detail.
- Getting started: In this second section, you will learn about the meaning and the principle of process costing, practical example of process costing, difference between process costing and job costing, and lastly process costing accounts.
- Practical Example: In this section, you will learn everything about process accounts and costing. The instructor will take you through the practical example of process accounts, key terms of process costing, normal loss in process account, and example of normal loss in process account. You will also learn about different types of process account, example of abnormal loss, concept of equivalent production, valuation of work progress inventory, example of equivalent production, average method in work progress inventory, and finally example of average method.
- Joint Product and By Product: In this last section, you will learn about joint product and by product. The instructor will also guide you on physical and average unit cost in joint product, contribution margin method in joint product, market value method in joint product, accounting for by product, and finally you will get to understand spoilage and rework.
Cost Accounting Certificate of Completion
Pre-requisites to this Cost Accounting Course?
- Willingness to do this cost accounting course: The first pre-requisite to this training is your willingness and commitment to do this course. Only going through the course will not make you an expert in cost accounting. You need to simultaneously practise on your own while you learn.
- Basic knowledge in accounting terms: It is important that you understand the basic accounting concepts and terminologies. Otherwise it would be difficult for you to do this cost accounting course.
- Basic knowledge of costing: You don’t need to know everything about costing. A fundamental knowledge will help you understand the concepts well and you would be able to extract the maximum value out of this course.
Target Audience for this Online Cost Accounting Course
- Students of finance: This online cost accounting course would be relevant and useful to the students of finance. Students from other branches can do this course, but only they can ensure about the usefulness and relevance of this course to their stream of study.
- Accountants, Cost Accountants, Tax Consultants: These working professional would get tremendous benefits out of this comprehensive course.
- Entrepreneurs: To entrepreneurs, this online cost accounting course would be invaluable since this course will teach them how to make effective decisions, how to reduce costs, and how to increase revenue and profit.
Sample Preview of this Cost Accounting Course
Cost Accounting Course FAQs
Why should I do this cost accounting course?
This online cost accounting course can’t be missed. It may not be relevant for all streams of students, but this is the most comprehensive and best course on cost accounting in the market.
I’m not in finance profession. Can I do this cost accounting course?
The answer lies within your question. It’s all about your willingness to do the course. But how useful this cost accounting course would be in your professional life, you need to figure that out.
I have years of experience in cost accounting. Would it be valuable to me?
Who won’t love a refresher course after many years of experience? This is a classic refresher course for those who have been in cost accounting for many, many years.
Career Benefits of this Cost Accounting course
- Add tremendous value to your professional life: There is no doubt about it. Do this online cost accounting course and you would know how valuable this course actually is.
- You will be way ahead of your peers: If you do this course, you would be marching along the extra mile. And your peers won’t be able to catch you any time soon.